HR1131119th CongressWALLET

Family Farm and Small Business Exemption Act

Sponsored By: Representative Mann, Tracey [R-KS-1]

Introduced

Summary

Exempts family farms and small family-owned businesses from federal student aid asset calculations. The bill would change the Title IV "net value" test so a family farm where the family lives and a family-owned small business with up to 100 full-time or full-time-equivalent employees would not be counted as assets in need analysis for award years beginning after enactment. That change would increase calculated financial need for students from those families.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

College aid: exclude family farm and business

If enacted, federal student aid asset tests would not count the net value of a family farm you live on. They would also not count the net value of a small business you own and control, if it has 100 or fewer full-time or full-time-equivalent employees. This would apply to need analysis for award years beginning on or after the date of enactment. For eligible families, this could increase need-based aid.

Sponsors & CoSponsors

Sponsor

Mann, Tracey [R-KS-1]

KS • R

Cosponsors

Rep. Panetta, Jimmy [D-CA-19]
CA • D
Sponsored 2/7/2025
Rep. Thompson, Glenn [R-PA-15]
PA • R
Sponsored 2/7/2025
Rep. Craig, Angie [D-MN-2]
MN • D
Sponsored 2/7/2025
Rep. Davis, Donald G. [D-NC-1]
NC • D
Sponsored 2/7/2025
Rep. Meuser, Daniel [R-PA-9]
PA • R
Sponsored 2/7/2025
Rep. Ellzey, Jake [R-TX-6]
TX • R
Sponsored 2/7/2025
Rep. Hageman, Harriet M. [R-WY-At Large]
WY • R
Sponsored 2/7/2025
Rep. Sorensen, Eric [D-IL-17]
IL • D
Sponsored 2/7/2025
Rep. Finstad, Brad [R-MN-1]
MN • R
Sponsored 2/7/2025
Rep. Fleischmann, Charles J. "Chuck" [R-TN-3]
TN • R
Sponsored 2/7/2025
Rep. Graves, Sam [R-MO-6]
MO • R
Sponsored 2/7/2025
Rep. Cline, Ben [R-VA-6]
VA • R
Sponsored 2/7/2025
Rep. Hinson, Ashley [R-IA-2]
IA • R
Sponsored 2/7/2025
Rep. Bost, Mike [R-IL-12]
IL • R
Sponsored 2/7/2025
Rep. Costa, Jim [D-CA-21]
CA • D
Sponsored 2/7/2025
Rep. Tenney, Claudia [R-NY-24]
NY • R
Sponsored 2/7/2025
Rep. Scott, Austin [R-GA-8]
GA • R
Sponsored 2/7/2025
Rep. DesJarlais, Scott [R-TN-4]
TN • R
Sponsored 2/7/2025
Rep. Edwards, Chuck [R-NC-11]
NC • R
Sponsored 2/7/2025
Rep. Grothman, Glenn [R-WI-6]
WI • R
Sponsored 2/7/2025
Rep. Maloy, Celeste [R-UT-2]
UT • R
Sponsored 2/7/2025
Rep. Tokuda, Jill N. [D-HI-2]
HI • D
Sponsored 2/7/2025
Rep. Bergman, Jack [R-MI-1]
MI • R
Sponsored 2/7/2025
Rep. Van Orden, Derrick [R-WI-3]
WI • R
Sponsored 2/7/2025
Rep. Franklin, Scott [R-FL-18]
FL • R
Sponsored 2/7/2025
Rep. Zinke, Ryan K. [R-MT-1]
MT • R
Sponsored 2/7/2025
Rep. Smith, Adrian [R-NE-3]
NE • R
Sponsored 2/7/2025
Rep. Schmidt, Derek [R-KS-2]
KS • R
Sponsored 2/7/2025
Rep. Moolenaar, John R. [R-MI-2]
MI • R
Sponsored 2/7/2025
Rep. Smith, Jason [R-MO-8]
MO • R
Sponsored 2/7/2025
Rep. Perez, Marie Gluesenkamp [D-WA-3]
WA • D
Sponsored 2/7/2025
Rep. Rouzer, David [R-NC-7]
NC • R
Sponsored 2/7/2025
Rep. Miller, Mary E. [R-IL-15]
IL • R
Sponsored 2/7/2025
Rep. LaHood, Darin [R-IL-16]
IL • R
Sponsored 2/7/2025
Rep. Messmer, Mark B. [R-IN-8]
IN • R
Sponsored 2/7/2025
Rep. Fallon, Pat [R-TX-4]
TX • R
Sponsored 2/7/2025
Rep. Bacon, Don [R-NE-2]
NE • R
Sponsored 2/7/2025
Rep. Webster, Daniel [R-FL-11]
FL • R
Sponsored 2/7/2025
Rep. Nunn, Zachary [R-IA-3]
IA • R
Sponsored 2/7/2025
Rep. Fitzgerald, Scott [R-WI-5]
WI • R
Sponsored 2/7/2025
Rep. Newhouse, Dan [R-WA-4]
WA • R
Sponsored 2/7/2025
Rep. Valadao, David G. [R-CA-22]
CA • R
Sponsored 2/7/2025
Rep. Guest, Michael [R-MS-3]
MS • R
Sponsored 2/7/2025
Rep. Self, Keith [R-TX-3]
TX • R
Sponsored 2/7/2025
Rep. Hudson, Richard [R-NC-9]
NC • R
Sponsored 2/7/2025
Rep. Fong, Vince [R-CA-20]
CA • R
Sponsored 2/7/2025
Rep. Downing, Troy [R-MT-2]
MT • R
Sponsored 2/7/2025
Rep. Miller-Meeks, Mariannette [R-IA-1]
IA • R
Sponsored 2/7/2025
Rep. Moore, Barry [R-AL-1]
AL • R
Sponsored 2/7/2025
Rep. Evans, Gabe [R-CO-8]
CO • R
Sponsored 2/7/2025
Rep. Feenstra, Randy [R-IA-4]
IA • R
Sponsored 2/7/2025
Rep. McDonald Rivet, Kristen [D-MI-8]
MI • D
Sponsored 2/7/2025
Rep. Flood, Mike [R-NE-1]
NE • R
Sponsored 2/7/2025
Rep. Lawler, Michael [R-NY-17]
NY • R
Sponsored 2/7/2025
Rep. Fitzpatrick, Brian K. [R-PA-1]
PA • R
Sponsored 2/7/2025
Rep. Scholten, Hillary J. [D-MI-3]
MI • D
Sponsored 2/7/2025
Rep. Joyce, John [R-PA-13]
PA • R
Sponsored 2/7/2025
Rep. Lucas, Frank D. [R-OK-3]
OK • R
Sponsored 2/7/2025
Rep. McCaul, Michael T. [R-TX-10]
TX • R
Sponsored 2/7/2025
Rep. Kelly, Mike [R-PA-16]
PA • R
Sponsored 2/7/2025
Rep. Salinas, Andrea [D-OR-6]
OR • D
Sponsored 2/7/2025
Rep. LaMalfa, Doug [R-CA-1]
CA • R
Sponsored 2/7/2025
Rep. Cisneros, Gilbert Ray [D-CA-31]
CA • D
Sponsored 2/7/2025
Rep. Kelly, Trent [R-MS-1]
MS • R
Sponsored 2/7/2025
Rep. Ezell, Mike [R-MS-4]
MS • R
Sponsored 2/7/2025
Rep. Wittman, Robert J. [R-VA-1]
VA • R
Sponsored 2/7/2025
Rep. Deluzio, Christopher R. [D-PA-17]
PA • D
Sponsored 2/7/2025
Rep. Cole, Tom [R-OK-4]
OK • R
Sponsored 2/7/2025
Rep. Kustoff, David [R-TN-8]
TN • R
Sponsored 2/7/2025
Rep. Baird, James R. [R-IN-4]
IN • R
Sponsored 2/7/2025
Rep. Jackson, Ronny [R-TX-13]
TX • R
Sponsored 2/7/2025
Rep. LaLota, Nick [R-NY-1]
NY • R
Sponsored 2/7/2025
Rep. Carter, Troy A. [D-LA-2]
LA • D
Sponsored 2/7/2025
Rep. Collins, Mike [R-GA-10]
GA • R
Sponsored 2/7/2025
Rep. Balderson, Troy [R-OH-12]
OH • R
Sponsored 2/7/2025
Rep. Bilirakis, Gus M. [R-FL-12]
FL • R
Sponsored 2/7/2025
Rep. Fischbach, Michelle [R-MN-7]
MN • R
Sponsored 2/7/2025
Rep. Ciscomani, Juan [R-AZ-6]
AZ • R
Sponsored 2/7/2025
Rep. Owens, Burgess [R-UT-4]
UT • R
Sponsored 2/7/2025
Rep. Rose, John W. [R-TN-6]
TN • R
Sponsored 2/10/2025
Rep. Davids, Sharice [D-KS-3]
KS • D
Sponsored 2/11/2025
Rep. Fedorchak, Julie [R-ND-At Large]
ND • R
Sponsored 2/11/2025
Rep. Barrett, Tom [R-MI-7]
MI • R
Sponsored 2/13/2025
Rep. Moore, Tim [R-NC-14]
NC • R
Sponsored 2/26/2025
Rep. Carbajal, Salud O. [D-CA-24]
CA • D
Sponsored 3/18/2025
Rep. Letlow, Julia [R-LA-5]
LA • R
Sponsored 3/31/2025
Rep. Harder, Josh [D-CA-9]
CA • D
Sponsored 7/10/2025
Rep. Vindman, Eugene Simon [D-VA-7]
VA • D
Sponsored 9/9/2025
Rep. Budzinski, Nikki [D-IL-13]
IL • D
Sponsored 6/29/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov

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Back to Legislation

Family Farm and Small Business Exemption Act

Summary

How does this bill affect your finances?

Bill Overview

Analyzed Economic Effects

Medium Impact

College aid: exclude family farm and business

Sponsors & CoSponsors

Sponsor

Cosponsors

Roll Call Votes

Related Bills

Live Policy Activity

Not In My Barn Yard Act

Other Activity On This Topic

DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push

How These Connect

Deep Dive

Federal Communications Commission — Communications Regulation

FCC Spectrum Management & Radio Licensing

Related Bills

Live Policy Activity

Not In My Barn Yard Act

Other Activity On This Topic

DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push

How These Connect

Deep Dive

Federal Communications Commission — Communications Regulation

FCC Spectrum Management & Radio Licensing

Labor Updates Vietnam Vets' Job Rules After EO Shakeup

Guam Harbor Locks Down for Secret Service VIP Visit

Expressing support for the designation of August 22, 2026, as "Chuck Brown Day", and honoring Chuck Brown's contributions to music and to the District of Columbia.

No Insider Trading on National Security Act of 2026

Crossett Experimental Forest Act of 2026

FCC & Telecommunications Regulation

National Labor Relations Act & Collective Bargaining